GPG, the international generation subsidiary of Naturgy, has closed an AUD284 million (US$197.6 million) non-recourse debt financing arrangement with VISION. VISION is an onshore wind construction financing vehicle, launched in collaboration between institutional investors advised by J.P. Morgan Asset Management (JPMAM) and Vestas Wind Systems.
The debt proceeds will be used to finance the construction of the Berrybank wind project, with a total installed capacity of 180 MW. The construction of the 180 MW facility started in January 2019 and its interconnection is expected to take place in the second quarter of 2020.
In August 2018, Berrybank was awarded a 180 MW PPA by means of a support agreement of 15 years with the State of Victoria in its last renewable energy auction.
Corresponding regulatory approvals have already been obtained.
Country updates
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June 07, 2019
Decmil Group lands AUD79m work at Alinta’s Yandin wind farm for Vestas
Decmil Group has been awarded AUD79 million (US$55.5 million) balance of plant (BOP) contract by Vestas for the Alinta Energy’s 214 MW Yandin wind farm in Western Australia. Decmil will de...
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June 05, 2019
Sanjeev Gupta receives development approval for its 280 MW Cultana solar project
Indian-born British businessman Sanjeev Gupta has received the planning approval from the South Australian Government for its planned 280 MW solar photovoltaic farm that will be built in Whyalla....
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June 04, 2019
Genex Power awarded environmental approval for 250 MW Kidston Pumped Storage Hydro
Genex Power Ltd has been awarded the final environmental approval for the development of the 250-MW Kidston Pumped Storage Hydro Project (K2-Hydro). The approval process was facilitated by the&nb...
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May 30, 2019
Queensland approves development of Acciona's Aldoga solar project
The Queensland government has approved a development application for a 762-hectare solar farm in the city’s State Development Area, subject to conditions. At maximum capacity, the AUD400 millio...
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May 29, 2019
NSW approves Wyalong Solar project
The New South Wales government has approved the 100MW Wyalong solar farm located in West Wyalong, Australia. The project has a potential to save up to 212,000 tonnes of greenhouse gas emissions a...
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